GDP picks up again, the euro recovers and the single currency area's price lists close positive, despite the red trend on Wall Street and the collapse of Google (the Alphabet holding company loses 8% on the Nasdaq), after the quarterly lower than expected. Business Square + 0,43% Frankfurt + 0,13% Paris +0,1%; Madrid +0,56%. Weak London -0,3%.
After the recent records in New York, the purchases mark time with the web giant in record decline and about 80 billion dollars of capitalization in smoke in the first hours of trading. Bad too Apple Lossless Audio CODEC (ALAC),, -2,04%, in view of the results that will be released during the day. The US stocks are also awaiting news on trade talks in China and the end of tomorrow's two-day Fed meeting.
THEeuro it strengthened in the exchange rate against the dollar and climbed back to 1,12, thanks to the good news on the GDP of the single currency area in the first three months, +0,4%. Italy too (+0,2%) is celebrating the exit from the technical recession which marked the end of 2018 and breathes a sigh of relief despite the fact that growth is lower than the European average. Istat also shows a better-than-expected labor market statistic, with a drop in the unemployment rate in March. The good news encourages bond purchases, weakened in the first part of the session by the morning's auctions. The yield of the 10-year BTP falls to 2,57% and the spread with the Bund decreases to 255.40 basis points -1,28%.
The banks, particularly sensitive to the spread, are today opposed in Piazza Affari and are paying the price for a weak sector at European level, following the disappointing accounts presented by Santander (-0,46% in Madrid) e Danske Bank (-9,57% in Copenhagen). Mediobanca it lost 1,42%, affected by a report by Banca Akros which expects a weak quarterly quarter and which, in the light of the approximately +30% achieved since the beginning of the year on the stock market, cuts the recommendation on the stock to "neutral".
The star of the day is Ferragamo, +3,01%, thanks to the positive opinion of MainFirst analysts who raised the rating on the shares to outperform from neutral. Well Prysmian, +2,5%. There Juventus rebounds by 2,53%, but archives a month in the black jersey after the large gains forfeited by the purchase of Ronaldo. On Atlantia + 2,18%.
Sales hit Saipem -1,8%; Leonardo -1,15%; Exor -1,07%.
Petroleum up, Brent 72,16 dollars a barrel (+0,87%)
Gold marching at $1284,45 an ounce.
